ArmInfo.On February 5, a contract signing ceremony was held at the RA Ministry of Economy with ASCE Group OJSC, in the presence of Economy Minister Gevork Papoyan.
As reported by the press service of the Ministry of Economy, ASCE Group OJSC will receive assistance under the state program to support issuance and rating. The company has issued, placed and listed bonds totaling15 billion drams and 15 million US dollars. The agreement was signed by Secretary General of the Ministry of Economy of the Republic of Armenia, Haykaz Nasibyan, and Director of OJSC, Hrachya Muradyan.
Initially, the company will receive support for issuing dram bonds worth 30 million drams. If the company meets the program requirements over the next 3 years, it may receive additional support in the amount of 135 million drams. The state support program for emission and rating, approved by government decree, aims to promote the development of the capital market, support bonds and share issuance by companies in the real sector, and help them obtain international ratings. In the case of bond issuance and listing, support is provided amounting to 11% of the bond issue volume. ASCE Group OJSC is the third beneficiary of the program.
